AUCTUS PUBLICATIONS ________________________________________ PetroTal (PTAL LN/TAL CN)C; Target of £0.65 per share: Latest well flows >7.6 mbbl/d. Sales pipeline back on line – The latest horizontal well (BN-8H) has achieved a ten day initial oil production rate of ~7.6 mbbl/d. This is materially above our expectations of ~5 mbbl/d. As a result, current oil production is ~ 15.4 mbbl/d, also above our expectations of >13 mbbl/d. This is a very good result and, with another development well due to
Companies: TRIN AOI ALV ALV HUR LEK LUPE TAL PHAR PGR TLW
Trinity Exploration & Production, Diversified Energy Company, Getech Group, Kistos, Phoenix Global Resources, Union Jack Oil, Rockhopper Exploration, Sound Energy, Siccar Point Energy, SDX Energy, Nostrum Oil & Gas, Pantheon Resources, Gran Tierra Energy, Hurricane Energy, Wintershall DEA
Companies: GTE DEC GTC HUR KIST NOG PANR PGR RKH SDX SOU TRIN UJO
AUCTUS PUBLICATIONS Bahamas Petroleum Company (BPC LN)/Challenger Energy Group (CEG LN)C; Target of 1.20p per share: Completing financing – BPC has raised £6.9 mm of new equity. This is an important step for the company to fund the upcoming work programme. The key near term newsflow is the drilling of the saffran#2 appraisal well that could derisk ~11 mmbbl. The company has now changed its name to Challenger Energy and will trade under the ticker of “CEG LN”. GeoPark (GPRK US)C; Target price
Companies: CEG BP/ CNE CNE DEC ENI ENI FEC GPRK GPRK GTE HUR NOG PXT PGR RDSA SDX SNM TETY TETY
Phoenix Global Resources (PGR) – Production falls 38.5% as Argentine shutdowns hit hard | Star Phoenix Group (STA LN): Prudent approach to capital discipline
Companies: Phoenix Global Resources plc (PGR:LON)Star Phoenix Group Ltd (STA:LON)
SDX Energy (SDX LN)C; Target price £0.45 per share: Growing the prize, accelerating drilling - Sales in Morocco are now almost back to pre COVID 19 levels (90%). This is important for cash flow. SDX has now mapped additional prospects on the South Disouq license, resulting in gross prospective resources increasing by 139 bcf to 233 bcf. Drilling in Egypt is being accelerated to start in 2Q21 with two initial wells targeting 165 bcf, including the new Hanut prospect with 139 bcf gross prospective
Companies: UKOG TLW SDX REP PXT HBR PGR OMV MAHAA LUNE JKX HUR GTC DEC
PetroTal (PTAL LN/TAL CN)C; Target: £0.45: Initiating coverage – PetroTal is a production and reserve growth story in Peru with a market cap of ~£90 mm. Management’s experience of operating in the jungle and their deep in country relationships are key. Project execution has been excellent. The Bretaña field (48 mmbbl 2P reserves) was acquired from Gran Tierra in late 2017 with production of 1 mbbl/d achieved in 3Q18. By YE19 that figure had grown to >13 mbbl/d. While COVID-19 forced a shut down
Companies: SEN SDX TAL PGR VOG PXT SAVE RDSA FAR
Serinus Energy (SENX LN): 1Q20 results - strong financial and operational performance | Phoenix Global Resources (PGR LN): Mercuria agrees to amend convertible facilities agreement
Companies: Serinus Energy plc (SEN:WAR)Phoenix Global Resources plc (PGR:LON)
Ascent Resources (AST LN): Entering Cuba | Diversified Gas and Oil (DGOC LN): Acquisition in the US | Phoenix Global Resources (PGR LN): Production shutdown and licence termination in Argentina | Premier Oil (PMO LN): Exiting Area A in Alaska following drilling results | Coro Energy (CORO LN) and Empyrean Energy (EME LN): Resources increase in Indonesia | Falcon Oil & Gas (FOG LN/FO CN): Farm out transaction in Australia | Oil Search (OSH AU): US$700 mm equity raise| Discovery in Norway | Baron
Companies: 88E AOI BLOE BOIL CHAR CORO DEC EGY EME ENOG ENQ IGAS KOS OSH OMV PGR HBR REP ENW SDX TETY UPL VLE AST
Tullow Oil (TLW LN): Not a merry Christmas at Tullow: CEO resigns, production guidance cut, dividend suspended | Rockhopper Exploration (RKH LN): Abu Sennan transaction update | Phoenix Global Resources (PGR LN): Strong operational update from PGR
Companies: TLW RKH PGR
Geopark (GPRK US)1 ; BUY, U$27.00: Recommended cash acquisition of Amerisur Resources (AMER LN) (not covered) | Phoenix Global Resources (PGR LN) (not covered): Additional funding | Parkmead Group (The) (PMG LN) (not covered): Results for year ended 30 June 2019 | DNO (DNO NO) (not covered): Baeshiqa testing Update
Companies: GPRK PGR PMG DNO
PetroTal (PTAL LN/TAL CN)1 ; BUY, £0.45: Another very good operating update | Phoenix Global Resources (PGR LN) (not covered): Divestment of Argentinian assets to Echo Energy (ECHO LN) (not covered) | President Energy (PPR LN) (not covered): Acquisition in Argentina | Valeura Energy (VLU LN/VLE CN)1,7; BUY, £6.00: Final well test results at Inanli-1 and decision by Equinor to start testing Devepinar-1
Companies: TAL PGR PPC VLE
GeoPark (GPRK US)1 ; BUY, US$26.00: New exploration acreage in Brazil | Phoenix Global Resources (PGR LN) (not covered): 1H19 update in Argentina | Regal Petroleum (RPT LN) (not covered): 1H19 results
Companies: GPRK PGR ENW
Phoenix Resources (PGR LN) (not covered): Vaca Muerta update in Argentina | Africa Oil (AOI CN/SS): BUY, C$2.60; 2Q19 results | Orca Exploration (ORC.A/B CN) (not covered): 2Q19 results
Companies: PGR AOI ORC/B
Companies: THR TRX KIBO VNET PGR OCI JAN KRS IHC ALS
Amerisur Resources (AMER LN) (not covered): Operations update in Colombia | Arrow Exploration (AXL CN) (not covered): Discovery in Colombia | Phoenix Global Resources (PGR LN) (not covered): 2Q19 update in Argentina | JKX Oil & Gas (JKX LN) (not covered): Drilling update in the Ukraine
Companies: AMER PGR JKX
Research Tree provides access to ongoing research coverage, media content and regulatory news on Phoenix Global Resources plc. We currently have 43 research reports from 7 professional analysts.
Phoenix copper today provides an update on its ground geophysical survey over the Red Star prospect near its Empire copper project in Idaho. The Red Star skarn mineralisation (lead and silver ± copper, zinc) is associated with magnetite; the survey just undertaken was to better understand the distribution and orientation of magnetite to find potential mineralisation and to inform the location and direction of a further drilling programme.
Companies: Phoenix Copper Ltd. (United Kingdom)
We are initiating coverage of VAST Resources (VAST), which has wholly-owned Baita Plai and Manaila polymetallic mines plus an interest in two exploration projects, all located in Romania. At this stage, Baita Plai is the main driver for our valuation as it is currently being ramped up to 14kt per month. As such, we expect Baita Plai’s Cu eq output to reach c 2.4ktpa in FY23F followed by 3.3ktpa in FY24F. This, coupled with Manaila’s potential re-start of an additional 3ktpa of Cu eq over the sho
Companies: Vast Resources plc
Diversified Energy Company (DEC) has announced a fourth acquisition within the Company's Central Region, acquiring a portfolio of upstream assets and related infrastructure from Tapstone Energy Holdings LLC and its related party, KL CHK SPV LLC. Oaktree Capital will co-invest in the acquisition, representing Oaktree's third co-investment since May this year. Importantly, Oaktree's participation provides important third-party validation whilst also affording Diversified additional liquidity and l
Companies: Diversified Energy Company PLC
We see the UK Government’s Net Zero Strategy as being overall helpful but not especially definitive. Amongst our coverage group, Drax Group (DRX LN) and Velocys (VLS LN) benefit from the Humberside CCS cluster prioritisation and Velocys from SAF support. The amount of renewables is likely to boost the need for flexibility solutions where Drax, Gore Street (GSF LN) and SIMEC Atlantis (SAE LN) can benefit. Hydrogen companies ITM (ITM LN) and Powerhouse Energy (PHE LN) are likely to find support. T
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
Companies: Shanta Gold Limited
Today’s IPO of Tungsten West (TUN-LON) unlocks a valuable, long term revenue stream for Hargreaves. This comprises a £1m per annum fee (first payment next month) as well as a mining services contract once the mine recommences production. The resulting EPS upgrades are 6% and 7% in FY22 and FY23 respectively, followed by 9% in FY24 with the first partial contribution from the mining services contract. This continues Hargreaves’ impressive recent run of forecast upgrades and reinforces our convict
Companies: Hargreaves Services plc
Companies: Thungela Resources Limited
Joiners No Joiners Today. Leavers No Leavers Today. What’s cooking in the IPO kitchen? Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov. Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
Companies: SYS1 ARE SO4 SNG TMG TMT OHG IDE KIBO MRL
Shanta Gold (AIM: SHG) has, this morning, announced its production and operational results for the quarter ended 30th September 2021 – see Fig 1. Operationally this was a slightly weaker than expected quarter but very promising from the corporate side with a new five-year plan announced, an 0.10cps interim dividend announced and a resource update at the West Kenya Project (WKP). QoQ production was flat at 14,194 oz and AISC rose to $1,480/oz caused by a temporary drop in grade as well as hig
Brent crude topped $85 a barrel in London for the first time since 2018, the latest milestone in a global energy crisis that has seen prices soar. Oil Prices: West Texas Intermediate for November settlement rose 97 cents to settle at $82.28 a barrel in New York. Brent for December delivery added 86 cents to settle at $84.86 a barrel. The global benchmark rose above the key level in intraday trading but did not settle above it on Friday. US crude futures posted an eighth straight weekly
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Trifast has released a good interim trading update ahead of its interim results due on 23 November. Overall trading has been in line with management expectations at “both revenue and profit levels” since the AGM update in July although this belies the strength of the Group's top line performance in our view. We remain buyers.
Companies: Trifast plc
Rio’s investors day was focused on two of the most critical mining industry thematics in today’s times, i.e. green and growth. The announced measures couldn’t have materialised at a better time, given the (recent) woes pertaining to governance and the iron ore market sell-off. Remember, considering Rio’s enviable balance sheet strength, it has the flexibility to pursue the targeted plans with rigorously and, at the same time, maintain ‘relative’ shareholder reward attractiveness. Hence, we reite
Companies: Rio Tinto plc
Anglo Asian Mining* (AAZ LN) - BUY – 180p – 4.5c special dividend BeMetals (BMET CN) –– Drilling commences at South Mountain, Idaho Condor Gold* (CNR LN) – BUY, valuation 102.5p – Progress of the La India feasibility study Hochschild (HOC LN) - Hochschild to spin off rare earth assets Rambler Metals and Mining* (RMM LN) – BUY, fair value 10.7p - Ming mine underground drilling programme demonstrates grade and width improvements at depth SolGold* (SOLG LN) – Tandayama-America initial resour
Companies: BMET AAZ CNR HOC RMM SOLG
Joiners Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m. Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
Companies: SOLI RBD ALU ATQT BBI CWR DRV ORCP WATR
With the recent acquisition of producing assets in the US, Canadian Overseas Petroleum (COPL) has started a new chapter in its existence and has already transformed its value proposition to investors. Following the recent operational developments, we are already seeing potential for a significant additional value accretion in the next 12 months, not only from the producing Barron Flats Unit (BFU), but from several other opportunities as well. The potentially better-than- expected production ramp
Companies: Canadian Overseas Petroleum Limited
